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Use the images and files attached to create a business plan project that aligns with instructions and directions. Make sure to see all attached files. WHAT IS A BUSINESS PLAN? A business plan is an essential planning and tracking tool. Some entrepreneurs believe that their business is too small to need a business plan. However, “businesses that fail to plan, plan to fail.” A business plan will help you start your business, make day-to-day operating decisions, get financing and to keep yourself and your business on track. Without a business plan, you will waste time, energy and money. You may also lose sight of your objectives and goals. There are many samples of business plans available from the library or websites listed on the last page of this syllabus. We will be focusing on the main components of a business plan for this project and they are as follows: Executive Summary- This is a broad overview of the business plan which emphasizes the major goals of the organization. It will summarize the company objectives, identify products and services, explain the competitive advantage, review the market, forecast revenue, expenses and profitability and the financing needs of the business. Business Profile- This will describe the long-range objectives of the organization, what it does, who its customers are and its position in the market. It will describe the business operation and its major areas of expertise. Organization Structure- This will provide details of the business ownership, management functions and key personnel. Market Study- This describes who your customer is, identifies the competition, explains pricing strategy and any barriers to your business. Financial Information- Information obtained during your marketstudy will assist you in developing an opening balance sheet and cash flow forecast for one year. A Sample Menu- must fit the concept with prices that will be completive in the Reno restaurant market. WRITTEN PORTION: It cannot be done the last night. This is a semester long project and you will have to devote a few hours each week to your business plan. We will be working on the different components of your plan as the semester goes on. In Chapter 5 (Week #4) of the text we will begin discussing the overall look and feel or your business plan.
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